The Rise of AI Powered Call Analytics
The term Artificial Intelligence has gained a lot of ground in the last few years. Almost every industry is making use of this technology to speed up business processes and make better use of manpower.
One of the most significant sectors that have benefited from the rise of AI is the call center industry. Companies that leverage real-time call analytics enjoy a significant boost in sales, customer service, and overall performance and efficiency.
Here are some of the features that you get with this technology:
- Real-time call transcription
- In-call recommendations
- Call script adherence and dialogue optimization
- Call monitoring and instant alerts
- Intelligent call scoring
- Integration with business decision support systems
Insureon, an online insurance company out of Chicago, experienced the power of AI for their call centers. The technology has become so effective that Insureon received recognition for their AI-powered call analytics platform developed by Velvetech.
Their solution extracts insightful conversationaldata which can be used to make better decisions in the realms of customer service and sales practices. The collective data that the AI technology gathers provide employees with the necessary information enabling them to make compelling conversations that ultimately result in conversions. After implementing their real-time call analytics, the company has enjoyed an impressive 52% growth in their customer conversion rate.
The solution gives Insureon unparalleled flexibility and a significant competitive advantage. Thanks to a full set of API integrations with business communications system, AI sales enablement solution, and CRM applications, Insureon was able to get a turnkey platform, ready to be used for solving complex call center business challenges. It successfully captures and transcribes the calls in real time to help sales reps drive conversations and give detailed reports to the company officials. The returns have been pretty good so far, and the company is eyeing another rise in customer conversion in the next quarter.
Why is real-time call analytics beneficial?
There is no doubt that AI is the future for every industry. While manual labor will continue to exist, most of the analytical jobs will be done by applications that run on AI technology. Following are some of the benefits that real-time call analytics brings to the table:
1. Understand and predict customer behavior
Since the call analytics are done in real-time and the technology can transcribe the call in detail, it helps to understand exactly what the customers want and what they think about the company. The companies can work on the data gathered to improve their sales flow.
2. Capture important customer data
Another important reason why this technology is already a huge hit is that it captures crucial information and data of customers while call center reps are on the call. These include what products and services the customers have purchased, the popularity and seasonality of the products, new offerings they look forward to, and so on.
3. Efficient employee training and evaluation
While the ultimate goal of any business is to drive sales, it’s worth understanding the impact of call analytics on employee training and evaluation. After all, the technology only empowers the call center agents. Their performance will have a bigger influence on customer behavior than the technology itself.
Companies looking to add new staff can use call transcripts by their best agents, allowing trainees to learn directly from those who perform most efficiently. These transcripts also prove useful in the overall monitoring of agent performance, making it easy to create reports that identify both weak and strong points.
With AI becoming increasingly pervasive across different industries, it is time to see what applications are developed with AI at the core. Any business that drives large volumes of customers through the phone should take advantage of an AI-powered call analytics solution to reap the highest rewards of conversational data.
Image Credits: Call Analytics from Rawpixel.com /Shutterstock